Correlation Between Fidelity Money and Nasdaq-100 Index
Can any of the company-specific risk be diversified away by investing in both Fidelity Money and Nasdaq-100 Index at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Fidelity Money and Nasdaq-100 Index into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Fidelity Money Market and Nasdaq 100 Index Fund, you can compare the effects of market volatilities on Fidelity Money and Nasdaq-100 Index and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Fidelity Money with a short position of Nasdaq-100 Index. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fidelity Money and Nasdaq-100 Index.
Diversification Opportunities for Fidelity Money and Nasdaq-100 Index
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Fidelity and Nasdaq-100 is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity Money Market and Nasdaq 100 Index Fund in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nasdaq 100 Index and Fidelity Money is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Fidelity Money Market are associated (or correlated) with Nasdaq-100 Index. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nasdaq 100 Index has no effect on the direction of Fidelity Money i.e., Fidelity Money and Nasdaq-100 Index go up and down completely randomly.
Pair Corralation between Fidelity Money and Nasdaq-100 Index
If you would invest 2,347 in Nasdaq 100 Index Fund on June 4, 2025 and sell it today you would earn a total of 185.00 from holding Nasdaq 100 Index Fund or generate 7.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fidelity Money Market vs. Nasdaq 100 Index Fund
Performance |
| Timeline |
| Fidelity Money Market |
| Nasdaq 100 Index |
Fidelity Money and Nasdaq-100 Index Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fidelity Money and Nasdaq-100 Index
The main advantage of trading using opposite Fidelity Money and Nasdaq-100 Index positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fidelity Money position performs unexpectedly, Nasdaq-100 Index can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Nasdaq-100 Index will offset losses from the drop in Nasdaq-100 Index's long position.| Fidelity Money vs. Vanguard Total Stock | Fidelity Money vs. Vanguard 500 Index | Fidelity Money vs. Vanguard Total Stock | Fidelity Money vs. Vanguard Total Stock |
| Nasdaq-100 Index vs. Nasdaq 100 Index Fund | Nasdaq-100 Index vs. Nasdaq 100 Profund Nasdaq 100 | Nasdaq-100 Index vs. Nasdaq 100 Profund Nasdaq 100 | Nasdaq-100 Index vs. Nasdaq 100 Index Fund |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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